This meme coin has been around for a while, and it challenges other coins in the cryptocurrency market like Bitcoin. As such, many people, if not everyone, seem to be aware of it. For those who spend a considerable amount of time on Twitter, you must have come across different tweets about Dogecoin. Many of these tweets come from the king of memes, Elon Musk.
What Is Dogecoin, and How Does It Stand Out from Other Coins?
Dogecoin was introduced as far back as 2013 by two highly intelligent individuals – Billy Markus and Jackson Palmer. Though it came to the limelight recently, it has always been around for many years.
Dogecoin is a peer-to-peer protocol that allows traders to send and receive coins or money from their digital wallets. As a decentralized system, this virtual currency is available to everyone who wants to buy cryptocurrency. Traders don’t also need to interface with the traditional banking system to carry out transactions.
Like every other cryptocurrency, Dogecoin is not subjected to the traditional banking system’s many regulations. Interestingly, the CEO, billionaire, and founder of Tesla picked interest in this coin. Since then, he has continued to show interest and support for the meme coin.
From tweets to clubhouse meetings and everything in-between the line, Musk continues to lend his voice, and this has caused a massive increase or decrease in the market value of Dogecoin and Bitcoin in recent months
How to Make Money with Dogecoin
Looking at the good side of Dogecoin, statistics have it that Dogecoin processes more transactions than Ethereum and Bitcoin. As such, traders can use Dogecoin to send money quickly to and from any part of the world they are. However, beyond this, several other ways exist to make money with Dogecoin, and they include:
- Traders can get paid for products and services using Dogecoin
The best way to make money with Dogecoin is for traders to get paid using Dogecoin. As the world continues to go virtual, digital payments are becoming a major thing. Many individuals can earn passive income through digital currency payments
If you have customers that are present on the Dogecoin network, you can receive payment in cryptocurrency. Alternatively, you can work as a freelancer offering your services to a global audience and use proceeds to invest in cryptocurrency.
- You can trade Dogecoin for profits
Another method to make money with Dogecoin is to stake existing Dogecoins on certain sites. Though several of these sites exist, one that is worth considering is Cointiply. It allows users and traders to conduct surveys and view ads while getting paid in Dogecoin.
Please note that before working with any of these platforms, even when you want to buy Dogecoin, you should conduct in-depth research to ensure they are safe and secured to lend Dogecoin to.
- Earn Dogecoin through affiliate programs
If you’re a tech-savvy individual, the chances are that you must have come across affiliate marketing. This is one of the many ways to make cool money online from the comfort of your home. Do you know you can make a lot of money with Dogecoin as an affiliate marketer?
Yes, you can by solving certain puzzles, carrying out online surveys that help the platform get better, and promoting certain ads. There are as many chances to earn Dogecoin as sites are offering these bonuses. You have to do the due diligence of surfing the internet to find the option that works best for you.
- Consider mining Dogecoin
Have you ever wondered where new digital currencies come from? Or do you think the cryptocurrency market booms on abstract currencies alone? You’re mistaken; digital currencies are introduced into the marketplace through mining. Asides from that, it aids the confirmation of transactions and generation of new blocks.
Individuals saddled with mining Dogecoin are called miners, and there’s a lot of money to make from it. To become a miner, you need to have certain sophisticated equipment and provisions of high energy level. You can also become a miner by joining certain mining pools online
Whether you’re starting the mining process yourself or joining a Dogecoin mining cube, you can make a lot of money mining Dogecoin.
- Buy and sell Dogecoin
As a cryptocurrency whose price is determined by the many market activities, you can expect a bear and a bull time. To make money from trading this cryptocurrency, you can buy Dogecoin when the price is low and sell it when it is high.
Here, you will have to study the market’s pattern and develop a trading strategy that works for you.
That’s it on five methods to make good money with Dogecoin. No doubt, there are other ways, and you can research them out, engage them, and work with the best option for you.